Discover the proposal made by Byron Donalds, a candidate for Florida governorship, to create a state Bitcoin reserve. Learn about the potential benefits and implications.
Byron Donalds, a US Congressman and candidate for Florida governorship, has suggested that the state establish a Bitcoin reserve. He believes Bitcoin can act as a solution against inflation and Federal Reserve monetary policies. Comparing Bitcoin to gold for its scarcity, Donalds proposes using it as a store of value. Referring to Bitcoin’s price growth from $500 in 2015 to over $80,000 this year, he sees it as a strategic asset for Florida. He suggests funding this reserve from the state’s surplus budget without the need for new taxes. This proposal comes as states like Pennsylvania and Texas are also exploring similar plans for Bitcoin reserves.
